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The Latest Breaking News from Insurance

Planning to invest over Rs 10 lakh in fixed deposits? Here are 4 benefits of splitting your money across multiple FDs

Investors face a choice between single and multiple fixed deposits for large sums. Splitting deposits offers better liquidity and increased insurance coverage. FD laddering allows reinvestment at prevailing interest rates for potential gains. Managing multiple FDs requires more effort and careful tracking of renewals.

The Economic Times

Trump Administration Targets 100 ACA Agents Over Fake Enrollments as CMS Warns 35% of Marketplace Signups Could Be Illegitimate

The Trump administration is sending notices of intent to 100 agents affiliated with the Affordable Care Act marketplace who allegedly violated the exchange’s standards of conduct by submitting insurance applications without recipients’ Social Security numbers or other identifying information, according to a report published Thursday by Fox Business.

Benzinga

You, an Honest Driver, Are Paying for Insurance Fraud Schemes: What You Can Do About It

Insurance fraud has a direct impact on your wallet. Documenting the details after an accident is the best defense you have against rising insurance premiums.

Kiplinger

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Star Health cuts mediclaim without citing any policy clauses: Court says insurer cannot act on 'whims and fancies'; orders to pay the remaining Rs 47K

Star Health Insurance has been ordered by a Guntur consumer commission to pay Rs 47,356 to a policyholder whose Covid hospitalisation claim was only partially settled, with the court ruling that the insurer deducted amounts without citing specific policy clauses and acted on its own whims and fancies.

The Economic Times

How to avoid getting ripped off when hiring a car abroad

Don’t get fuelled – tips to avoid car rental rip-offs abroad.

The Independent UK

New insurance norms for hospital admission: 'Unnecessary hospitalisation' won't be allowed; doctors fear genuine mediclaims may be denied

New insurance norms for hospital admission issued by the General Insurance Council advise that patients with uncomplicated fever be treated on an outpatient basis rather than admitted. While the council calls it advisory, doctors and nursing home owners fear insurers will use the guidelines to deny legitimate cashless claims, particularly…

The Economic Times

AI helps insurers cut onboarding costs, speed up claims processing: McKinsey

Artificial intelligence is transforming the insurance industry by enhancing sales efficiency and minimizing customer onboarding expenses. The accuracy in claims processing has greatly improved, offering significant advantages to insurers. Top firms prioritize AI in their essential operations to deliver measurable results. Additionally, fostering internal digital skills and establishing a strong…

The Economic Times

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Sompo to cover cost of bringing Hlun Solo's body home

Sompo Insurance (Thailand) has pledged to cover, in full, the cost of repatriating the body of travel YouTuber Bowornthat Pengsuk, known as Hlun Solo, who died in Georgia at the age of 27.

Bangkok Post

FinMin launches Protection & Indemnity Insurance product under Bharat Maritime Insurance Pool

India's Department of Financial Services launched a new sovereign-backed P&I insurance product. This product is designed by New India Assurance Company under the Bharat Maritime Insurance Pool. The insurance offers financial protection against third-party liabilities up to USD 1.5 billion. The Bharat Maritime Insurance Pool has already provided uninterrupted war…

The Economic Times

Insurers not liable for accident compensation if driver's licence was invalid: Supreme Court

The Supreme Court ruled insurance companies are not liable for accidents with unlicensed drivers. Driving without a valid license can lead to significant compensation liabilities for owners. The court urged nationwide awareness campaigns on maintaining valid driving licenses. It also called for reforms in driving schools and license accessibility.

The Economic Times

Why More Mortgage Payments Increase Even When Rates Don’t

A mortgage rate can sit quietly while a monthly payment suddenly climbs, creating a frustrating financial surprise for homeowners. The reason often has nothing to do with the interest rate and everything to do with the other costs tucked inside a typical mortgage payment.

Everybody Loves Your Money

Older Americans set to see Medicare cost rise after Trump kills subsidy for drug program

Decision to eliminate concession could mean higher monthly insurance premiums for millions of people

The Independent UK

Florida’s proposed property tax amendment will require trade-offs – and some residents could end up with higher costs

Between inflation, rising car and property insurance premiums and the costs of contending with extreme weather, many Florida homeowners are feeling financially squeezed.

The Conversation

LIC rejects insurance claim saying policyholder hid illnesses: Court says past typhoid, jaundice had no link with sudden heart attack; insurer ordered to pay over Rs 10 lakh

LIC rejects insurance claim saying policyholder hid illnesses: LIC rejected a death claim filed by a Guntur widow, arguing her husband had hidden past bouts of typhoid and jaundice when he took out a policy in 2021. A consumer commission has now ruled that those illnesses had no connection to…

The Economic Times

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The Free Financial Advisor

Home Insurance Renewal Changes Retirees Can Challenge or Compare

Retirees facing a surprising home insurance renewal notice do not have to simply accept a higher bill without a closer look. A renewal packet can feel like a mystery novel written in insurance language, but homeowners can review changes, ask questions, compare options, and challenge errors that affect their coverage…

We Got This Covered

Texas woman with stage 4 cancer going broke trying to survive. Then she reveals life-saving scans aren’t considered ‘preventative’: ‘such a damn joke’

Cancer has had a severe effect on her finances as well

The Economic Times

Tata AIG rejects stolen bike insurance claim over delayed FIR: Court says police delay can't cost a policyholder their compensation; orders insurer to pay over Rs 2 lakh

Tata AIG rejects stolen bike insurance claim over delayed FIR: Tata AIG General Insurance ordered to pay over Rs 2.19 lakh by a Visakhapatnam consumer commission to the owner of a stolen Yamaha MT-15 after ruling that the company's rejection of the claim on grounds of delayed FIR registration was…

International Business Times UK

Trump Voters Admit They Didn't Know Obamacare and the Affordable Care Act Are the Same Law

Viral street interviews reveal confusion among Trump supporters who mistakenly believe Obamacare and the Affordable Care Act are different, sparking renewed debate on healthcare costs.

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The Economic Times

Will government raise Rs 21,000 ESIC wage ceiling? Here's what Labour Ministry said

The ESIC wage ceiling is periodically increased by the government. The last revision raised the limit to twenty-one thousand rupees monthly. The Code on Social Security, 2020, now encompasses more establishments. Gig and unorganised workers are now covered under the ESIC scheme. Attendance restrictions for seasonal workers' treatment remain unchanged.

The Independent UK

Ship swaps and missed stops: How river cruise lines are dealing with low water levels

Cruise editor Marc Shoffman explains how passengers could be affected by droughts across Europe

AAP

'Breathtaking' NDIS exploitation in remote communities

Multiple groups have told an inquiry the federal government's proposed National Disability Insurance Scheme reforms should not go ahead in their current form.

The Free Financial Advisor

New Hampshire Marketplace Enrollment Details Residents Need Before August 10

Health insurance deadlines rarely generate much excitement, but this one deserves attention. New Hampshire residents who enrolled in certain health plans after misleading marketing may have a limited opportunity to switch into comprehensive Marketplace coverage before the August 10 deadline.

The Economic Times

Star Health Insurance Q1 Results: Profit jumps 25% to Rs 550 crore

Star Health reported a twenty-five percent net profit increase for the first quarter. Total income rose to Rs 4,471 crore from Rs 3,990 crore a year ago. Gross written premium increased nineteen percent to Rs 4,287 crore during the quarter. The insurer's underwriting profit surged significantly to Rs 111 crore.…

The Guardian - UK

Prince Harry and co-claimants face huge legal bill due to insurance shortfall

Claimants’ cover might not meet Associated Newspapers’ costs for defending phone-hacking case, high court hears

The Independent UK

Prince Harry and other celebrities could be forced to pay millions to cover failed Mail legal action

The court heard there was a shortfall between their insurance cover and costs which are more than £34 million

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